GenTek Corporation uses Raw Material A in a manufacturing process. Balances on hand, purchases and requisitions of Raw Material A are given below: Jan. 1 Balance, 350 lbs. @ $3.70 5 Received 600 lbs. @ $3.80 12 Issued 200 lbs. 18 Issued 450 lbs. If GenTek Corporation maintains a perpetual inventory record of Raw Material A on a LIFO basis, it will show a month end inventory of:
a. $2,680
b. $1,540
c. $2,650
d. $2,648
c
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The completeness assertion refers to ensuring that transactions and events that should have been recorded actually have been recorded.
Answer the following statement true (T) or false (F)
List four key components of closing costs
What will be an ideal response?
The check digit is calculated originally by applying a formula to an identification number.
Answer the following statement true (T) or false (F)
Using the fixed-time-period inventory model, and given an average daily demand of 15 units, 3 days between inventory reviews, 1 day for lead time, 30 units of inventory on hand, a service probability of 98 percent, and a standard deviation of daily demand is 3 units, which of the following is the order quantity?
A. About 36.3 B. About 56.8 C. About 42.3 D. About 59.8 E. About 30.4